Question

Mrs. Smith wants to use an installment plan to buy a washing machine and dryer set priced at $1,500. The installment plan requires a down payment of 12%. How much will Mrs. Smith have to pay at the time of purchase (not including taxes)? A. $120 B. $150 C. $180 D. $1,200

Answer 1

Option C) Smith have to pay $180 at the time of purchase.

Step-by-step explanation:

Mrs. Smith wants to use an installment plan to buy a washing machine and dryer set priced at $1,500.

• Therefore, the total cost = $1500
• The down payment for the installment plan is 12%.

We need to find the payment amount at the time of purchase.

This can be calculated by finding the 12% of the total price $1500.

Smith have to pay at the time of purchase = 12% of 1500

⇒ (12/100) × 1500

⇒ 12 × 15

⇒ 180

Hence, option C) $180 is the amount need to be paid by the Smith at the time of purchase.